Arrowstreet Capital Limited Partnership Buys 2,282,949 Shares of Newell Brands Inc. (NASDAQ:NWL)

Arrowstreet Capital Limited Partnership lifted its stake in Newell Brands Inc. (NASDAQ:NWL) by 214.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,349,136 shares of the company’s stock after purchasing an additional 2,282,949 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Newell Brands were worth $33,357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd bought a new position in Newell Brands in the 4th quarter valued at approximately $46,000. Smartleaf Asset Management LLC raised its stake in shares of Newell Brands by 140.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 7,912 shares of the company’s stock worth $79,000 after purchasing an additional 4,617 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of Newell Brands by 24.8% during the fourth quarter. Versant Capital Management Inc now owns 8,376 shares of the company’s stock valued at $83,000 after purchasing an additional 1,666 shares in the last quarter. Glenmede Trust Co. NA purchased a new stake in shares of Newell Brands during the third quarter valued at $92,000. Finally, iSAM Funds UK Ltd purchased a new stake in shares of Newell Brands during the third quarter valued at $94,000. Institutional investors own 92.50% of the company’s stock.

Newell Brands Stock Performance

NASDAQ NWL opened at $6.27 on Thursday. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.14 and a quick ratio of 0.56. Newell Brands Inc. has a 1-year low of $5.39 and a 1-year high of $11.78. The business has a 50 day simple moving average of $7.42 and a two-hundred day simple moving average of $8.48. The stock has a market capitalization of $2.61 billion, a PE ratio of -12.06, a P/E/G ratio of 0.95 and a beta of 0.88.

Newell Brands (NASDAQ:NWL) last posted its earnings results on Friday, February 7th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. Newell Brands had a positive return on equity of 9.76% and a negative net margin of 2.85%. During the same quarter in the prior year, the company posted $0.22 earnings per share. On average, research analysts predict that Newell Brands Inc. will post 0.72 EPS for the current fiscal year.

Newell Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.28 dividend on an annualized basis and a yield of 4.47%. Newell Brands’s dividend payout ratio (DPR) is presently -53.85%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NWL. Wells Fargo & Company decreased their target price on Newell Brands from $9.00 to $7.00 and set an “equal weight” rating for the company in a research report on Wednesday. Canaccord Genuity Group lowered their price objective on shares of Newell Brands from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Truist Financial raised shares of Newell Brands from a “hold” rating to a “buy” rating and lifted their target price for the stock from $10.00 to $17.00 in a research report on Monday, December 9th. UBS Group increased their price target on Newell Brands from $9.50 to $10.50 and gave the company a “neutral” rating in a report on Thursday, January 16th. Finally, JPMorgan Chase & Co. lifted their price objective on Newell Brands from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $10.58.

Newell Brands Profile

Newell Brands Inc engages in the design, manufacture, sourcing, and distribution of consumer and commercial products worldwide. The company operates in three segments: Home and Commercial Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solution products under the Rubbermaid, Rubbermaid Commercial Products, Mapa, and Spontex brands; closet and garage organization products; hygiene systems and material handling solutions; household products, such as kitchen appliances under the Crockpot, Mr.